Rising iPhone sales enable Apple to surpass expectations

Apple reported on Thursday that amid inflationary pressure and a weakening global economy

iPhone sales and revenue from services drove quarterly earnings over expectations.

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A good earnings season for US IT companies was topped by the iPhone maker's performance, with Meta

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Google, and Amazon also exceeding forecasts following a tough period of decreased sales and profits.

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In the first three months of this year, the industry leader in smartphones posted a $24 billion profit on $94.8 billion

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Despite the fact that the overall revenues for the period were lower than they had been the previous year

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this was to be expected, and Apple's shares increased by around 1% in after-market trade.

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Sales of iPhones were up two percent and tallied $51.3 billion in the quarter, according to earnings figures.

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